Quantum Leap Communications This quarter, we chose Quantum Leap to be featured as our Client Spotlight. Quantum Leap has been with us for almost 4 years and we could not be more grateful for a growing relationship with them. We had the opportunity to sit down with Rob Dykstra, one of the owners of...

Quantum Leap to ask him a series of questions about what makes his business thrive. Check out what he had to say!

Proper recognition of company assets and liabilities is important to the transparency of financial reporting and increased comparability between businesses. The Financial Accounting Standards Board (FASB) is in charge of consistently improving the reporting standards, and a topic of discussion in recent years has been financing provided to entities through lease agreements. Until accounting...

standards update 2016-02 (Topic 842), a company was able to keep certain leases off of their balance sheet. The accounting standards update (ASU) released in 2016 by FASB is coming ever closer to its effective dates for all entities. Public companies are already having to oblige to the new rules for fiscal years beginning after December... [read more]

This Month Rob Westdorp Wrote into the Grand Rapids Business Journal to discuss the IRS per diem rates. Business travelers have a lot of expenses to keep track of, including hotels, restaurants and transportation. Companies generally use one of two methods to pay for travel-related expenses: reimbursement of actual expenses, which requires the...

business traveler provide receipts to report the actual cost and then request reimbursement; or the IRS-allowed per diem rates, which are daily allowances to compensate for lodging, meals and incidental expenses incurred on business trips. IRS per diem rates are updated annually. The IRS provided the new rates in effect from Oct. 1, 2018, to Sept. 30,... [read more]

Considering purchasing a new business vehicle? 2018 may be a good time to do so. Thanks to the Tax Cuts and Jobs Act (TCJA), favorable changes in depreciation rules have been put in place for certain capital expenditures, including vehicles purchased for business use. Luxury Auto Limits Special depreciation rules, known as the ‘luxury...

auto limits’, have been in place for several years. These rules apply to passenger autos, vans and light trucks. Under old law, for most passenger autos, these rules limited first year depreciation to $3,160. For light trucks and vans, these rules limited first year depreciation to $3,560. Now, under the TCJA, the luxury auto limits have... [read more]

Melissa Seguin contributes to the Grand Rapids Business Journal frequently, and this month she is at it again to help us make sure our tax withholding’s are on the right track. “We are halfway through the first year of the new Tax Cuts and Jobs Act, or TCJA, and now is a great time...

to review your tax withholdings on your paycheck to make sure you are on track. If your withholding is too high, then you are essentially giving the IRS an interest-free loan. If your withholding is too low, you may be subject to penalty and interest when you file your 2018 tax return.” Follow Melissa as... [read more]

Tax Reform Takes a Bite out of Entertainment There have been multiple changes that have arisen from the Tax Cuts and Jobs Act that will be implemented in 2018. One that business owners may want to keep in mind are the new rules on the deductibility for meals, entertainment and fringe benefits. Historically,...

most meals and entertainment expenses have been 50% deductible for tax purposes, other than a few exceptions. Under the new tax reform, expenses associated with entertainment will no longer be deductible. Most food and beverage expenses will remain 50% nondeductible, but some items that have previously been 100% deductible will now be subject to 50% as... [read more]

We are so very excited to announce that our 5th annual Baker Holtz charity golf outing registration is officially OPEN! This year we are benefiting the Y-Achievers program which assists youth in 6th through 12th grade, with a focus on those who are not achieving their full potential. Our youth find success in and out of...

school by setting and achieving educational and career goals that will result in high school graduation and a successful post-secondary plan. Y-Achievers focuses on developing a pipeline of future leaders. To learn more about the Y-Achievers program, click HERE. To register at our Golf Event taking place August 16th, click here> Golf Outing Registration Form 2018 ... [read more]

We are honored to be part of West Michigan’s 101 Best and Brightest companies to work for, for the 4th year in a row. We are extremely blessed with our amazing staff who we would not be here without. A huge congratulations is in order for all of the companies who made it to...

the list! You can check out the entire list at the Best and Brightest web page. West Michigan’s 2018 Best and Brightest Companies To Work For®

April showers brings May flowers.. or great advice from Katie Evans! This month Katie provides guidance on HRAs for small employers and employees. “Prior to the Patient Protection and Affordable Care Act of 2010, health reimbursement arrangements, or HRAs, had been a familiar item, particularly to small businesses. As a result of the change...

in law, employers have been penalized for providing HRAs to their employees, causing many to turn away from the traditional HRA. In 2016, however, the 21st Century Cures Act was introduced. This new legislation allowed for a modified version of an HRA, which now provides a way for employers to offer qualified small employer health reimbursement... [read more]

Seth Hanenburg really hit the nail on the head in this blog from the Grand Rapids Business Journal. Do you know what assurance means to your business? “Assurance. What is it? How does it apply to your business? What are the different levels of assurance? The simple explanation of assurance is confidence. Confidence in...

the accuracy of the financial statements of the company is often a requirement of lenders, shareholders and others who rely on the financial statements to make important decisions. There are different levels of assurance that may be required. A Certified Public Accountant can provide various levels of assurance by performing a preparation, compilation, review, or audit... [read more]